NASSAU, BAHAMAS — Disgraced former FTX CEO Sam Bankman-Fried, who was convicted of fraud and conspiracy and sentenced to 25 years in prison in one of the largest financial fraud cases in US history, is launching an appeal against his convictions and prison sentence.
An attorney for Bankman-Fried, 32, filed a notice of appeal on Thursday. This development comes two weeks after his sentencing.
Bankman-Fried was found guilty last November on seven counts of fraud and conspiracy related to the collapse of FTX and its associated hedge fund, Alameda Research.
Bankman-Fried was accused of misappropriating $8 billion from customers and using the funds for personal gain. Despite maintaining his innocence, his conviction marks one of the largest financial fraud cases in US history.
FTX was headquartered in The Bahamas before its collapse. In December 2022, Bankman-Fried was arrested and extradited from The Bahamas to face criminal charges.
FTX has managed to reclaim around 38 Bahamas properties—worth $222 million—from Bankman-Fried and other executives. Now, the company is preparing to sell off that real estate to help pay back creditors, including thousands of defrauded customers who have filed claims.
